Filing Details

Accession Number:
0001140361-10-048874
Form Type:
4
Zero Holdings:
No
Publication Time:
2010-12-08 18:14:37
Reporting Period:
2010-12-07
Filing Date:
2010-12-08
Accepted Time:
2010-12-08 18:14:37
SEC Url:
Form 4 Filing
Issuer
Cik Name Symbol Sector (SIC) IRS No
1485469 Tower International Inc. TOWR Motor Vehicle Parts & Accessories (3714) 208879584
Insiders
Cik Name Reported Address Insider Title Director Officer Large Shareholder Other
1491717 William Cook C/O Tower International, Inc.
17672 Laurel Park Dr. North, Suite 400E
Livonia MI 48152
Svp, Global Human Resources No Yes No No
Reported Non-Derivative Transactions
Sec. Name Acquisiton - Disposition Date Amount Price Remaning Holdings Equity Swap Involved Form Type Code Nature of Ownership Explanation
Common Stock, Par Value $0.01 Per Share Acquisiton 2010-12-07 4,000 $16.41 4,000 No 4 P Direct
Equity Swap Involved Form Type Code Nature of Ownership Explanation
No 4 P Direct
Reported Derivative Holdings
Sec. Name Sec. Type Price Date Expiration Date Amount Remaning Holdings Nature of Ownership
Common Stock Stock Options (right to buy) $13.00 2020-10-14 13,572 13,572 Direct
Common Stock Restricted Stock Units $0.00 67,775 67,775 Direct
Expiration Date Amount Remaning Holdings Nature of Ownership
2020-10-14 13,572 13,572 Direct
67,775 67,775 Direct
Footnotes
  1. The price in Column 4 is a weighted average price. The prices actually received ranged from $16.39 to $16.42. The reporting person has provided to the issuer, and will provide to any security holder of the issuer, or the SEC staff, upon request, information regarding the number of shares purchased at each price within the range for all transactions reported in this Form 4 utilizing a weighted average price.
  2. These stock options will vest ratably on March 1, 2012, March 1, 2013 and March 1, 2014; provided, however, that such stock options will also vest in full upon the occurrence of a "change in control" of Tower International, Inc. (the "Company"), as defined in the Tower International, Inc. 2010 Equity Incentive Plan (the "Plan").
  3. Each restricted stock unit (collectively, the "RSUs") represents a contingent right to receive one share of the common stock, par value $0.01 per share (the "Common Stock"), of the Company.
  4. Fifty percent (50%) of the RSUs vest nine months after the consummation of the Company's initial public offering (the "First Vesting Date") and the balance of the RSUs will vest eighteen months after the consummation of the Company's initial public offering (the "Second Vesting Date"); provided, however, that such RSUs will vest in full upon the occurrence of a "change in control" of the Company, as defined in the Plan; provided further, however, that if the Company terminates the reporting person's employment for any reason other than for "cause," as defined in the Plan, or the reporting person's employment terminates due to death or disability, (Continued in next footnote)
  5. (a) if the non-cause termination event occurs prior to the First Vesting Date, 50% of the RSUs will vest on the earlier to occur of (i) the First Vesting Date and (ii) December 31 of the calendar year during which such non-cause termination occurs, and (b) if the non-cause termination event occurs after the First Vesting Date but before the Second Vesting Date, 100% of the RSUs will vest on the earlier to occur of (i) the Second Vesting Date and (ii) December 31 of the calendar year during which such non-cause termination occurs.